eSignature Legitimateness for Sublease Agreement in United States

How to eSign a document: eSignature legitimateness for Sublease Agreement in United States

- Sometimes things happen and you need to move unexpectedly. If you don't want to terminate your lease agreement prematurely and lose your security deposit, you can choose to sublet the rental property instead. However, it is important to remember that there are laws governing these agreements, which you will need to consider when planning to sublease a rental unit. In this video, we'll provide you all the information you need to sublet a property. So let's get started. (upbeat music) (logo chiming) Sublease agreement. A Colorado sublease agreement is a legal document that allows current tenants to lease or sublet a portion or all of a rental property to someone else. Subletting A property is only permissible if the original lease doesn't prohibit it. Moreover, it is a smart strategy to ensure that your rental unit is occupied when you are away for a prolonged period or to generate some extra money by taking in a roommate. However, it does come with a few legal risks, so it's important to be aware of the laws, guidelines, and standards that apply to sublease agreements in Colorado. What to include. It is essential to include certain information in your sublease agreement to stipulate the terms and conditions of the lease. Here are some of the important details you should add; The names and contact details of all parties involved. A description of the rental unit. Details about the monthly rent, how much is due, and when the subtenant will need to pay rent. Security deposit requirements. Policies. This could include your rules for smoking, pets, and noises. A section for all parties to sign the agreement. You may need to have an additional area for the landlord to provide their written consent for the agreement. How to write one. Even if the lease agreement permits subleasing, all renters in Colorado must first obtain the landlord's approval before doing so. Before signing a contract, the landlord must receive the information listed below. This information enables the landlord to understand the terms of the rental agreement, and the subtenants you would like to have. Here's how to write your sublease agreement. Provide the address and a description of the rental unit. List the names of all the parties involved. State the name of the landlord. Provide information about the security deposit, rental amount, and due dates for these payments. Detail the terms and conditions for the sublease. List any restrictions that aren't mentioned in the original lease. Special laws. If you want to know if you can sublet the property you're living in, you can turn to the original lease. In Colorado, a renter is advised to obtain written consent from their landlord before subletting a rental unit. You'll be accountable for your sublessee, and responsible for any lease infringements once you have signed a Colorado sublease agreement. Moreover, as a sublessor, you must adhere to all Colorado laws governing the eviction procedure, security deposit, and any other landlord/tenant issues, as well as the terms and conditions of the sublease contract and the original lease. ing to Colorado law, the original tenant must: provide a new tenant with a documented three-day notice to pay the rent or vacate; unless otherwise specified, the security deposit must be returned within one month of the sublease's termination, and no later than 60 days; give written notice to renew the original lease or sublease based on how long the subtenant has occupied the unit. Renewing the sublease agreement. As mentioned before, the number of days you will need to provide written notice when renewing an agreement will depend on the duration of the sublease. Here are some excerpts from tenant law in Colorado to take note of. Occupancy less than a week, one day's notice. Tenancy between one to four weeks, three days. One month or more, but not under a year, 21-day notice. Six months to a year, 28 days. Tenancy of one year or longer, 91 days' notice. Sublessors. Sublessors have a responsibility to: obtain written consent from the landlord before subletting the unit; return the security deposit within one month; provide written notice when renewing the original lease or sublease within the designated timeframe; give the subtenant a three-day notice to vacate the premises or pay rent. Build your own. Now that you know what to include in your Colorado sublease agreement, it's time to build your own. To save time, you can use our free Colorado sublease agreement template, which will be found in the description below. Alternatively, you can use our intuitive property management software to run a credit and background check on the new tenant and receive rent payments. DoorLoop was created in response to a growing need for a platform to help manage rental businesses. You can use the software to run background checks, create professional leases, and track rental payments on one intuitive platform. Be sure to book your free demo today to try it out. That link will also be in the description. eSignature. Lease signing is your biggest opportunity to lay the foundation for a pleasant tenant experience, and that relies on making the process as easy and efficient as possible. With DoorLoop, you can get your subleases eSigned in just a few seconds. You can also get to the eSignature step much more easily by creating reusable sublease templates that are auto-filled with the tenant's information. DoorLoop also makes it so simple to find the best tenants in the first place by syndicating your listings on popular websites such as Zillow, Trulia, HotPads, Apartments.com, and many more. You can also make sure you're bringing in the best tenants by screening your prospects through DoorLoop in seconds. So when used correctly, a Colorado sublease agreement can offer a number of benefits. However, it is important to take the relevant laws into consideration when drawing up these legal documents. You can use DoorLoop to help you create flawless sublease agreements or manage a sublet arrangement. With that being said, we hope these insights help you along your property management journey. Be sure to like and subscribe for more helpful videos from DoorLoop. Thank you so much for watching, and we'll see you in the next one. (laid-back music)